Core Viewpoint - The company, Canyin Technology (688182.SH), is developing technologies and products suitable for optical communication modules [1] Group 1 - The company has indicated its ongoing research in relevant technologies for optical communication modules [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company is expected to benefit significantly from the capital expenditure on 5G-A by operators, leading to a substantial increase in its main business of filters. The HTCC production capacity is anticipated to be gradually released in 2025, enhancing the company's growth potential and improving the stability of future performance. The company is also expected to apply its products in various fields, including robotics [2][10] - The company's financial data indicates that the utilization rate has a significant impact on profitability. With rapid revenue growth and improved utilization rates, there may be an increase in gross margin, a decrease in expense ratio, and an enhancement in net profit margin [10] Financial Performance - In the first half of 2025, the company achieved operating revenue of 287 million yuan, a year-on-year increase of 52.76%, and a net profit attributable to the parent company of 52 million yuan, up 51.94% year-on-year. In the second quarter of 2025, the operating revenue was 162 million yuan, with a year-on-year increase of 52.36%, and a net profit of 29 million yuan, up 49.30% year-on-year [6][10] - The company is projected to achieve net profits attributable to the parent company of 104 million yuan, 214 million yuan, and 362 million yuan for the years 2025, 2026, and 2027, respectively, representing year-on-year growth of 80%, 106%, and 70%. The corresponding PE valuations are expected to be 106x, 51x, and 30x [10]

Market Overview - The Shanghai Composite Index closed at 3844.84 points, with a decline of 0.79% [1] - The total trading volume of A-shares reached 1,930.44 billion yuan [1] Stocks with Death Cross - A total of 43 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Zhongma Transmission (603767) with a distance of -3.93% [1] - Jifeng Technology (300022) with a distance of -1.30% [1] - Canqin Technology (688182) with a distance of -1.28% [1] Individual Stock Performance - Zhongma Transmission (603767) saw a decrease of 0.82% with a latest price of 29.01 yuan, which is 8.91% below the 10-day moving average [1] - Jifeng Technology (300022) decreased by 2.12%, latest price at 8.30 yuan, 4.39% below the 10-day moving average [1] - Canqin Technology (688182) dropped by 6.45%, latest price at 25.68 yuan, 7.56% below the 10-day moving average [1] - Other notable declines include: - Meiai Technology (688376) down 4.72% [1] - Jingxin Pharmaceutical (002020) down 2.82% [1] - Zhongyuan Media (000719) down 1.36% [1] Additional Stocks with Death Cross - Other stocks showing a death cross include: - Guomai Technology (002093) down 5.22% [2] - Nanfang Pump Industry (300145) down 5.30% [2] - ST Diweixun (300167) down 1.59% [2] - Aerospace Development (000547) down 3.00% [2] - The performance of these stocks indicates a broader trend of declining prices among companies experiencing a death cross [2]

Core Viewpoint - The recent financial report of Canqin Technology (688182) shows significant growth in revenue and net profit for the first half of 2025, indicating strong operational performance and potential investment opportunities [1]. Financial Performance - The total revenue for the first half of 2025 reached 287 million yuan, a year-on-year increase of 52.76% compared to 188 million yuan in the same period of 2024 [1]. - The net profit attributable to shareholders was 51.91 million yuan, up 51.94% from 34.17 million yuan in the previous year [1]. - In Q2 2025, total revenue was 162 million yuan, reflecting a 52.36% increase year-on-year, while net profit for the quarter was 29.25 million yuan, a 49.3% increase [1]. - The gross margin improved to 31.2%, up 1.27% from the previous year, and the net margin increased to 18.58%, up 7.26% [1]. - The total of selling, administrative, and financial expenses was 20.55 million yuan, accounting for 7.15% of revenue, a decrease of 5.27% year-on-year [1]. Balance Sheet and Cash Flow - Accounts receivable rose significantly, with a year-on-year increase of 113.37%, reaching 239 million yuan [1]. - The cash flow per share decreased by 63.42% to 0.09 yuan, while earnings per share increased by 44.44% to 0.13 yuan [1]. - The net asset value per share was 5.51 yuan, reflecting a 2.44% increase year-on-year [1]. Investment Insights - The company's return on invested capital (ROIC) was 2.18% last year, indicating a need for improved capital efficiency [3]. - The net profit margin was reported at 13.68%, suggesting high value-added products or services [3]. - Analysts expect the company's performance in 2025 to reach 140 million yuan, with an average earnings per share forecast of 0.35 yuan [3]. Fund Holdings - The largest fund holding Canqin Technology is the Shenwan Lixin New Economy Mixed A fund, with 2.85 million shares, indicating strong institutional interest [4]. - Other funds that have entered the top ten holdings include Qianhai Kaiyuan Artificial Intelligence Theme Mixed A and Shenwan Lixin Lecong Mixed A, reflecting a growing interest in the company [4].

Group 1 - The core viewpoint of the news is that Cankun Technology (688182.SH) has reported significant institutional ownership, with 23 institutional investors holding a total of 279 million shares, representing 69.87% of the company's total equity [1] - The top ten institutional investors collectively hold 69.16% of the shares, with a slight increase of 0.06 percentage points compared to the previous quarter [1] - Among public funds, there was an increase in holdings from one fund, namely Shenwan Hongyuan New Economy Mixed Fund A, which saw a 0.14% increase in its shareholding [1] Group 2 - In the insurance sector, one insurer, Taiping Life Insurance Co., Ltd. - Dividend - Group Insurance Dividend, reported a slight decrease in holdings compared to the previous quarter [2] - One new insurance investor disclosed this quarter is also Taiping Life Insurance Co., Ltd. [2] - In terms of foreign investment, Hong Kong Central Clearing Limited was not disclosed in this quarter compared to the previous one [2]

Group 1 - The company will hold its first extraordinary general meeting of shareholders in 2025 on September 12, 2025, at 14:00 [2][4] - The meeting will take place at the company's conference room located at 266 Jinguang Road, Zhangjiagang Free Trade Zone, Jiangsu Province [2][4] - Shareholders can vote through the Shanghai Stock Exchange's online voting system, with voting available from 9:15 to 15:00 on the day of the meeting [2][6] Group 2 - The company has announced that the meeting will include both on-site and online voting methods [4][6] - Shareholders must register to attend the meeting, with registration available on September 11, 2025 [11][13] - The company will not cover transportation or accommodation costs for attendees [14] Group 3 - The company will also hold a half-year performance briefing on September 17, 2025, from 14:00 to 15:00 [21][23] - The briefing will be conducted via the Shanghai Stock Exchange's online interactive platform [21][22] - Investors can submit questions for the briefing from September 10 to September 16, 2025 [21][25]

Core Viewpoint - Jiangsu Canqin Technology Co., Ltd. is revising its articles of association and internal management systems to enhance corporate governance and comply with regulatory requirements [1][9]. Group 1: Articles of Association Revision - The company is amending its articles of association, with changes subject to approval by the market supervision administration and the shareholders' meeting [1]. - The revised articles will be disclosed on the Shanghai Stock Exchange website [1]. Group 2: Internal Management System Revisions - A series of internal management systems are being formulated and revised to promote standardized operations and improve internal governance [1]. - The proposed revisions have been approved by the company's board and will be submitted for shareholder approval [1]. Group 3: Supervisory Board Meeting - The second meeting of the third supervisory board was held on August 26, 2025, with all three supervisors present, confirming the legality and validity of the meeting [3][4]. - The board approved the special report on the use of raised funds for the first half of 2025, confirming compliance with relevant regulations [5][6]. Group 4: Fundraising and Usage - The company raised a total of RMB 1,050 million through an initial public offering, with a net amount of RMB 974.27 million after deducting fees [13]. - As of June 30, 2025, the company has used RMB 242.47 million of the raised funds for investment projects, with a remaining balance of RMB 162.40 million [15][19].

第一节 重要提示 1.4公司全体董事出席董事会会议。 1.5本半年度报告未经审计。 1.6董事会决议通过的本报告期利润分配预案或公积金转增股本预案 登录新浪财经APP 搜索【信披】查看更多考评等级 公司代码：688182 公司简称：灿勤科技 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到上海证券交易所（http://www.sse.com.cn）网站仔细阅读半年度报告全文。 1.2重大风险提示 公司已在本报告中描述公司面临的风险，敬请查阅本报告"第三节 管理层讨论与分析" "四、风险因 素"相关内容，请投资者予以关注。 1.3本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司股票简况 ■ 公司存托凭证简况 □适用 √不适用 联系人和联系方式 ■ □适用 √不适用 1.7是否存在公司治理特殊安排等重要事项 □适用 √不适用 第二节 公司基本情况 2.1公司简介 2.2主要财务数据 单位：元 币种：人民币 ■ 2.3前10名股东持股情况表 ...

Core Viewpoint - The company announced the election of Chen Chen as the employee representative director of the third board of directors during the employee representative meeting held on August 26, 2025 [1] Summary by Relevant Sections - **Company Announcement** - The company held an employee representative meeting on August 26, 2025, where a resolution was made to elect Chen Chen as the employee representative director [1]

Group 1 - The company announced the approval of multiple proposals, including the cancellation of the supervisory board and amendments to related regulations [2]